lodging / MRP = 1.1 / 3.06 = 0.3595 rD = rf + MRP * βD = 8.95% + 3.06% * 0.3595 = 10.05% We calculated the weigth average of the βu of different pure plays in the hotel industry and got βu = 0.4113(details in Excel file) The assumption during the calculation of βu is that all the debts are risk free and there are no taxes for these hotels to simplify the calculation. In reality‚ it is impossible to have no taxes‚ but the case did not provide the relevant information and we can get an approximate
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Challenges of small businesses Growth in the small and medium business in Canada and other developed countries has been very significant. This sector of the business community now represents about 40 percent of GDP and accounts more than half of total employment. Today small businesses are more diverse and more vigorous than ever‚ but they also faces newer and more challenges or inhibitors to their growth than their older conter parts. This research will attempt to find the answer to the following
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CHALLENGES OF PRINT MEDIA Conventional wisdom in the media industry holds that existing‚ established forms of media adapt to new and emerging forms. For example‚ radio adapted to the emergence of television rather than simply fading away. The emergence of the Internet and the plethora of information available‚ however‚ have led many to question the conventional view. Media executives and scholars agree that newspapers‚ magazines and other forms of print media face serious challenges in terms of
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organized activity permitted by the colonial authorities.”.(Freeman & Bendahmane 1978‚ p.1) INTRODUCTION The South African history is one that has had a dramatic influence on all its citizens‚ socially‚ politically and economically. The difficulties faced by south Africans during oppression and the apartheid era have made south Africans the way they are today in terms of knowing their rights and how to fight for such rights. There were massive political movements that were formed by activists who wanted
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NIKE MARKETING CHALLENGE Contents 1. Introduction: Section: 1.1: Summary 1.2: Historical goals in Marketing 1.3: History and development of the company 2. Marketing activities Section: 2.1: Innovation 2.2: SWOT 2.3: Marketing mix 2.4: Targeting strategy 3. Recommendation and conclusion
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When J. Willard Marriott opened his first nine stool A&W restaurant in Washington D.C. on May 20‚ 1927 he had no idea what his name would mean to the world one day. John Willard Marriott was born on September 17‚ 1900. He was from a farm in Utah where he spent his childhood and young adult ages working for his parents. Early on‚ J. Willard was a young mind looking for business. When he was old enough his dad let him travel for the family business. While he was going through Washington D.C. he
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Challenges faced by the UK economy Introduction Bank of England‚ responsible for key interest rates. Pound sterling is the currency‚ world’s 3rd largest reserve currency after USD and Euro. Country with literacy rate of 99% for both genders Member of Commonwealth of Nations‚ European Union‚ G7‚ G8‚ G20‚ IMF‚ World Bank‚ World Trade Organization‚ UN Aerospace‚ automotive‚ pharmaceutical Players heard of – Rolls Royce‚ Jaguar‚ TESCO‚ Major F1 teams‚ GSK History Independent‚ developed
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UNIVERSITY MARRIOTT CORPORATION BONDHOLDERS VERSUS EQUITY HOLDERS On October 5‚ 1992‚ Marriott Corporation announced a plan to restructure the company by splitting itself into two parts. The announcement caused immediate and opposite price movements for its stock and its bonds. Stockholders were happy and bondholders were in a furor‚ particularly those that bought a new issue of bonds in April. The Restructuring Plan The two separate companies were to be Marriott International and Host Marriott. The
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learned lots of knowledge by doing my assigned task. I was assigned in Concierge Department‚ in Concierge Department we are responsible in taking care of the baggage and other things of our guest. In 38 days of staying and having an OJT in Mariott Hotel and Resorts‚ I learned the importance of great impression. Because in our industry which is the Tourism Industry‚ our impression to our guest is very important. Just “show simple smile‚ be friendly and approachable with them it will give a good impact
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Marriott Corporation: The Cost of Capital T c=income taxes of 1987 / income before income taxes of 1987 = 175.9/398.9 = 44% Step 1:From the Exhibit 3 ß equity for each firm in this industry are below Marriot Corporation 1.11; Hilton Hotels Corporation .76 ; Holiday Corporation 1.35 La Quinta Motor Inns .89; Ramada Inns‚ Inc 1.36. Step 2: For each firm in the industry‚ to estimate bunlevered using the bequity estimate: bequity = [1 + (1-TC)Debt/Equity]bunlevered bunlevered of Marriot= 1.11/[1+(1-
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